DAX PERFORMANCE-INDEX (.GDAXI) lifts off yesterday’s low

DAX PERFORMANCE-INDEX (.GDAXI) lifts off yesterday’s low

DAX PERFORMANCE-INDEX (.GDAXI) lifts off yesterday’s low

The DAX rallied from 13,660 yesterday, but perhaps worryingly for the bulls the price looks to be creating a lower high at 13,760.

Near-term targets are13,660 and 13,600. Below this, 13,450 and then 13,210 come into play as possible support. A move back above 13,760 leaves only the record peak at 13,800 before fresh all-time highs.

Technical Indicators

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 13,276.87.

The projected upper bound is: 14,142.29.

The projected lower bound is: 13,461.65.

The projected closing price is: 13,801.97.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 80.4641. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 61.76. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 65 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 80. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 9 period(s) ago.

Rex Takasugi – TD Profile

XETRA DAX PF closed up 107.810 at 13,789.000. Volume was 13% above average (neutral) and Bollinger Bands were 50% wider than normal.

Open     High      Low     Close     Volume___
13,751.05013,789.00013,710.78013,789.000 90,192,856
Technical Outlook 
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 13,670.40 13,380.90 12,611.03
Volatility: 11 16 17
Volume: 84,163,160 79,224,760 85,447,840

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

XETRA DAX PF is currently 9.3% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .GDAXI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .GDAXI and have had this outlook for the last 6 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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